FTC says ‘you will be disappointed’ if you choose $125 for Equifax payout
Illustration by Alex Castro / The Verge
The Federal Trade Commission said today there’s been “overwhelming” interest in a settlement agreement with Equifax, and that consumers looking for a previously announced payout of up to $125 may be disappointed.
The agency said this month that it had reached a $700 million agreement with the credit reporting agency over a massive breach of private data in 2017. As part of the settlement, consumers whose data was compromised could request up to $125 or free credit monitoring services. The potential for a quick payout generated major interest, but only $31 million of the settlement was set aside for cash payouts, meaning each payout could be far smaller than $125, depending on how many people request one.
I…
